How Important Is Social Media To Your Blog Or Business?

Maximize Your Use Of Time And Money Online

by in Personal Finance on Mar 2nd, 2015

As an online media consultant for several financial technology companies, I’ve been asked to think about existing traffic acquisition strategies and figure out better ways to utilize a company’s time and money to improve returns. I love analyzing data and finding solutions to increase ROI. As a problogger, leveraging my experience building Financial Samurai over the past six years to help other companies grow their brand and traffic online makes sense.

For the longest time, I’ve had a bias AGAINST social media. Who has time to tweet, like, flip, share, and do all that? Social media seriously feels like a huge time sink if you are just a one or two person show. The only platform I really use is Twitter, and even Twitter I feel is not a very good use of my time.

Look at what happens on social media:

* You open yourself up to social flaming wars

* You create stress by always feeling you have to respond to people

* The police come and arrest you once you tell everybody on Facebook you robbed a bank

* Given Facebook’s privacy settings are so confusing, Mark Zuckerberg’s sister didn’t realize the family photo she posted on her Wall was actually accessible to more people than she thought.

* You don’t get that much traffic back to your site, unless your site is really small, or all about social

There is social media overload, and I just don’t have time to run a Facebook page, Pinterest page, Twitter feed, Google+ page, and LinkedIn page to help those sites gain traffic. Instead, I’ve focused all my time just writing content on Financial Samurai and doing the basic social media publishing, but nothing more.

But some people are rockstars at social media and I wonder if it takes a certain type of personality to always be talking about yourself and your work online. I personally get sick of hearing myself speak, which is why I’m constantly looking for other viewpoints.

Let me share with you a spreadsheet I put together on various sites’ traffic figures, social percentage, and social percentage. Let’s see if we can glean any data together. Read More

Leaving A Neuroscience PhD To Build Two Online Businesses

by in Lifestyle on Jun 9th, 2014

My name’s John Accardi. I’m 25 years old and just about 6 months ago, I withdrew from the neuroscience PhD program at Georgetown University. Not only was I on a full scholarship that paid my tuition and lab expenses, but I was receiving a generous stipend as well. So why did I drop out and how did I build 2 profitable online businesses with hardly any startup capital?

Why did I leave Georgetown?

I left for one simple reason: I didn’t like it. In the Neuroscience PhD program, I was required to attend class but the majority of my time was spent doing research at the lab bench. I was working on developing the new technology of optogenetics to treat epilepsy. I’d surgically implant fiber optic cables into the rat brain, in the attempts to alter epileptic neural networks. At times, It was cutting-edge and exciting but mostly it felt limiting. Like most jobs, I had to work for long hours in the same place with the same people, day after day. I also disliked the fact that I needed permission to take any time off, even for something as simple as a doctor’s appointment.

I started to become restless and thought of ways that I could earn a living with a more free lifestyle. I searched for different ways to work for myself and set my own hours. I also wanted the potential to earn more money. After some searching, I became excited about the idea of building an online business. It was so fascinating to me because I knew that an online business could be operated from anywhere in the world. I pictured myself at a condo in Florida, sitting by the pool while managing business from my laptop or phone. Read More

What I’ve Learned From Business Failure

by in Lifestyle on May 8th, 2014

I’m not sure where I first heard the term, “Fail fast and fail often,” but it’s great advice for entrepreneurs. I recently decided to shutdown YakezieNetwork.com after six months of operation because of the following reasons:

1) 99% of affiliate revenue came from one source and I found a streamlined solution.

2) HasOffers was cumbersome to use for reporting purposes. I’m sure part of it has to do with my incompetence. Although I did receive a couple e-mails from other affiliate platforms who moved off HasOffers and onto InfusionSoft.

3) HasOffers isn’t cheap at $279 a month for a startup platform. I asked for a discount, and they said no. I thought they’d throw me a bone just to collect something instead of nothing since all revenue is profit given the software has already been built. But I respect their decision.

4) My partner found a full-time job, which ended up taking up a lot of her time. I was relying on her to manage everything from signing up clients to supporting users to sending out invoices in exchange for a split in revenues. She needed W2 income as she wanted to buy a house. Going through the mortgage process myself, I completely empathize with her as one needs at least two years of entrepreneurial income in order for banks to consider your income real for a loan nowadays.

5) Accounts payable and financial tracking is not something I enjoy. The bigger YakezieNetwork.com got, the more bookkeeping I’d have to do, which started making me unhappy. The obvious solution is to just hire someone to do it for me, but I decided to just minimize the business instead. Once you’ve tasted a lot of freedom from work, it’s more difficult that normal to get back into doing things that are necessary, but painful.  Read More

The Beauty Of Operational Leverage In Running A Business

by in Lifestyle on Dec 9th, 2013

I recently finished up my annual business offsite in Oahu and I wanted to highlight one thing everyone in the blogging business should do once a year.

Calculate your year over year top line revenue growth and compare that figure to your year over year operating profit figure. If you have been growing, hopefully you should see a much bigger operating profit growth rate than your revenue growth rate. This is what we call Operational Leverage in finance.

The internet business is my favorite business because the world is our potential demand curve and our costs are largely fixed. If we are able to grow revenue, more and more of our bottom line profits flows into our pockets as a result. It only costs ~$20 a year to own your domain, $20-$250 a month for web hosting, and $100 – $3,000 a year for maintenance and design work. After that, all other expenses are discretionary.

To give you a simple analogy let’s look at property. If your property is in an upcycle as we are now, every 1% increase in your property price is like a 5% increase in your overall equity if you put 20% down. Property is my absolute favorite asset class to build wealth in an upcycle. In a downcycle, property is a terrible investment and you shift your mindset from being an investor to being an inhabitant. Hopefully everybody has a decent portion of their net worth in risk-free investments to play defense when bad times return.

CONSERVATIVE BUSINESS GOALS CAN CREATE BIG MONEY Read More

Don’t Confuse Being A Freelancer With Being A Blogger And Vice Versa

by in Lifestyle on Aug 5th, 2013

The terms “blogger” and “freelancer” are often used interchangeably to describe ourselves, but it’s important to differentiate between the two to minimize disappointment and maximize profitability. One can certainly be a blogger with a freelance business or a freelancer with a blog. However, to do one successfully requires a different skillset.

I’m a blogger first with some services I offer to anybody or any business looking to develop a presence online or seek help with their personal finances. However, such services are not my main focus as I limit my clientele to four a month maximum. The reason why I limit my consulting is because I mainly want to write, which is my joy. If I wanted to work, I wouldn’t have retired!

Whether my writing makes money or not is secondary to being able to share some thoughts and interact with the community. It’s always going to be this way. The thrill of getting picked up by some major media organization or doing an interview on a public radio station is addicting. So is learning about different perspectives from readers all around.

As it turns out Financial Samurai generates enough income to eat ramen noodles in San Francisco. But again, this is a side product because I’m currently living off my passive income streams in CD interest, dividends, and rental income. Everything generated from my blog is a bonus.

Despite four years of blogging, I’m still struggling immensely with selling a product or myself. I just don’t enjoy the process of trying to make money from readers and am seriously considering outsourcing the work to a freelancer.

THE MAIN DIFFERENCE BETWEEN A BLOGGER AND A FREELANCER Read More

How To Make Money Quitting Your Job
  • Nathan: FS, It sounds like you have had the most success getting directly exposed to a company. Any tips for reaching...
  • The Frugal Toad: Social media is a growing source of traffic for me but I agree it can be a big time consumer....
  • TheLendingMag: Social media definitely has its place, but it’s important to put it in its place. If not…....
  • The Frugal Toad: I’m a content certified publisher(whatever that means) with one of the major affiliate...
  • Untemplater: I’ve built relationships with several of my affiliate partners. It’s definitely helpful to...
  • BeSmartRich: Excellent posting. I will keep it mind! Cheers! BSR
  • Financial Samurai: Reaching out to people you couldn’t have connected with is definitely a benefit, especially...
  • Financial Samurai: Here’s the thing. If you spend all your time on Facebook, you drive lots of traffic to...
  • Linda: I agree with you that Social Media for the most part is not very productive. It’s a time sink, and...
  • Derek@LifeAndMyFinances: I just started focusing on social media again and it has some definite benefits. First, it...

Help Support The Yakezie Network

Yakezie Membership Support
Yakezie.com

© 2015 Yakezie.com | All Rights Reserved

Privacy Policy | Terms of Service | Contact Yakezie

Personal Finance Lifestyle Writing Contest

The Yakezie is one of world's largest and most sophisticated network of personal finance and lifestyle bloggers. Through collaboration and the selfless support of others, we strive to improve the lives of every one of our visitors.

About Yakezie